Most listings are in the $80's per square foot per year. The Theater District region is going through a a rise in rates. In the last 3 months, the median rate increased $23 per sqft per year. That's a 35% rise in rent.
Compared to the rest of the New York City market, the Theater District region has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 213 listings have been posted online, so you'll want to check back regularly for new listings. About 15% of the office spaces in the Theater District are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 4,860 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are approximately 23 floors. Most buildings in this market were built in 1930 and are Class A.
Arts, entertainment, and restaurants are the dominant industries in this market. Most of the residents of Theater District work from home. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.